MATHESON, ON,
Oct. 28,
2024 /CNW/ - Mayfair Gold Corp. (TSXV:
MFG) (OTCQX: MFGCF) ("Mayfair" or the "Company") is
pleased to announce the appointment of Nicholas
Campbell to the position of Vice President of
Corporate Development of Mayfair effective October 28, 2024.
Mr. Campbell has more than 20 years of experience in the mining,
minerals, and metals industry, and has held several leadership
positions. Prior to joining Mayfair, Mr. Campbell was Vice President of
Capital Markets of Artemis Gold Inc., a gold development company.
Prior to that, Mr. Campbell served as Executive Vice President of
Business Development of SilverCrest Metals Inc. and Chief Financial
Officer of Goldsource Mines Inc.
Mayfair's interim Chief
Executive Officer, Darren McLean,
commented: "We welcome Mr. Campbell to the Mayfair team. With his background in finance
and expertise in marketing and corporate development, Mr. Campbell
is focused on identifying opportunities for growth, executing
strategic transactions, and ensuring that Mayfair continues to be well-positioned in the
mining industry."
Mayfair has granted Mr.
Campbell 300,000 incentive stock options under the Company's share
option plan at an exercise price of $2.03. The options vest 1/3 on each of the date
of grant and the first and second anniversary of the date of grant,
and are exercisable for a five-year term expiring on October 27, 2029.
About Mayfair
Mayfair is a Canadian mineral
exploration company focused on advancing the 100% controlled
Fenn-Gib gold project in the Timmins region of Northern Ontario. The Fenn-Gib gold deposit is
Mayfair's flagship asset and
currently hosts an open pit constrained mineral resource estimate
(as defined in National Instrument 43-101 – Standards of
Disclosure for Mineral Projects) with an effective date of
September 3, 2024 with a total
Indicated Resource of 181.3M tonnes
containing 4.313M ounces at a grade
of 0.74 g/t Au and an Inferred Resource of 8.92M tonnes containing 0.14M ounces at a grade of 0.49 g/t Au at a 0.30
g/t Au cut-off grade. The Fenn-Gib deposit has a strike length of
over 1.5km with widths ranging over 500m. The gold mineralized zones remain open at
depth and along strike to the east and west. Recently completed
metallurgical tests confirm that the Fenn-Gib deposit can deliver
robust gold recoveries of up to 94%.
Forward-Looking
Statements
This news release contains forward-looking information which
reflects management's expectations regarding the Company's growth,
results of operations, performance and business prospects and
opportunities. Forward-looking statements in this news release
include, but are not limited to, the anticipated benefits of Mr.
Campbell's skills and experience to the Company, the anticipated
opportunities for the Company's growth, the potential strategic
transactions of the Company and the continuation of Mayfair's well-positioning in the mining
industry. Forward‐looking information is based on various
reasonable assumptions including, without limitation, the
expectations and beliefs of management, the assumed long-term price
of gold; that the Company can access financing, appropriate
equipment and sufficient labour and that the political environment
where the Company operates will continue to support the development
and operation of mining projects. Should underlying assumptions
prove incorrect, or one or more of the risks and uncertainties
described below materialize, actual results may vary materially
from those described in forward‐looking statements.
Forward‐looking information is subject to a variety of risks and
uncertainties which could cause actual events or results to differ
from those reflected in the forward‐looking information, including,
without limitation, risks and uncertainties relating to foreign
currency fluctuations; risks inherent in mining including
environmental hazards, industrial accidents, unusual or unexpected
geological formations, ground control problems and flooding; delays
or the inability to obtain necessary governmental permits or
financing; risks associated with the estimation of mineral
resources and reserves and the geology, grade and continuity of
mineral deposits; the possibility that future exploration,
development or mining results will not be consistent with the
Company's expectations; the potential for and effects of labor
disputes or other unanticipated difficulties with or shortages of
labor; failure of plant, equipment or processes to operate as
anticipated; actual ore mined varying from estimates of grade,
tonnage, dilution and metallurgical and other characteristics; the
inherent uncertainty of production and cost estimates and the
potential for unexpected costs and expenses, gold price
fluctuations; uncertain political and economic environments;
changes in laws or policies.
The Company undertakes no obligation to publicly update or
review the forward-looking statements whether as a result of new
information, future events or otherwise, other than as required
under applicable securities laws. The forward-looking statements
reflect management's beliefs, opinions and projections as of the
date of this news release.
Neither the TSX Venture Exchange
("TSXV") nor its Regulation Services
Provider (as that term is defined in the policies
of the TSXV) accepts responsibility for the adequacy or
accuracy of this news release.
SOURCE Mayfair Gold Corp.